Sberbank Teams Up With Tinkoff Bank To Launch P2P Payments Service

Russian banking group Sberbank announced on Friday it has teamed up with Tinkoff Bank to launch joint peer-to-peer (p2p) payment transfer service that uses mobile phone numbers. According to Sberbank, the new service allows bank card users to transfer money from card to card immediately by using their mobile apps and knowing a phone number.

Sberbank revealed in order to transfer money from a Sberbank card to a Tinkoff Bank card using a phone number, the Sberbank customer can open the Sberbank Online app, tap To Other Bank’s Card, then Transfer Using Phone Number, and finally choose the receiver in contacts or input their number. If necessary, the client can leave a comment for the receiver. Speaking about the new service and partnership with Tinkoff Bank, Director of Payment and Transfers Division of Sberbank Igor Mamontov, added:

“Sberbank’s instant transfers have become a real trend in recent years. They are easier, faster and safer than cash transfers. When developing our services, we try to do everything to make people’s lives easier. Today we have reached a new level of money transfer development. The new service will allow clients of the two banks to transfer money to each other using phone numbers as they can do inside Sberbank’s system.”

The service now appears in the Android and iOS apps of Moscow-based clients and by the end of July, it will be available for all clients in Russia.

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